Trading leveraged trading products carries a high level of risk.
All ForexCFDs clients are categorised as Retail and will remain so unless otherwise agreed with you.
In accordance with the Australian Corporations Act 2001 (Cth), all client money is held in accounts with an Australian authorised deposit-taking institution. Those accounts are designated as trust accounts and client funds are segregated from own funds.
The segregated accounts are held with a top tier Australian bank, the WestPac banking Corporation in Australia.
Please refer to ASIC Client Money Policy
ForexCFDs has produced this policy document to state how they handle client money. The purpose of the document is to provide clients with an insight to how client money is reconciled and the operation of segregated client trust funds so that they are better informed to assess the safety of their funds.
All client money is held at Westpac Banking Corporation, an Australian authorised deposit-taking institution. All retail client money is segregated from any accounts used to hold ForexCFDs’ money but is co-mingled with other clients’ money as permissible under Australia’s Corporations Act 2001 (Cth) (‘Act’).
The retail client money held in segregated client trust funds are not used to meet any of ForexCFDs’ margin requirements. ForexCFDs also keep Wholesale client money in segregated client money trust funds.
Each business day net client profits (realised or unrealised) on trades of the previous business day are transferred into the segregated client accounts and net client losses (realised or unrealised) of the previous business day are transferred out of the segregated client accounts. The client funds held in segregated client accounts represent the total amount due and payable to all clients as at the previous business day.
Payments are only ever made out of the client money accounts to meet withdrawal requests and to pay any net client losses of the previous business day.
From 29 March 2021, ForexCFDs offer client’s Negative Balance Protection. In the event funds deposited into your account are unable to meet the total margin requirements of any open positions due to adverse trading conditions, the maximum loss to the client is the funds deposited into the account. All ForexCFDs accounts do not have a negative balance liability.